The future of Social Security

[Dutch-NJ]

There are some experts who consider Social Security a Ponzi Scheme. I can understand their viewpoint.

The baby boomer generation will be retiring soon. That’s going to start the dominoes falling.

Check American demographics. People are living longer. Younger couples are marring at an older age. Families are giving birth to fewer children.

Can we expect one grandchild to support 16 people? Do the math yourself.

Who is going to fund Social Security to keep the Ponzi Scheme working?

Hint: Immigrants

 

[Junkman]

Who is going to fund Social Security to keep the Ponzi Scheme working?

Hint: Immigrants

WRONG!!!!!!!!! The are going to figure out a way to get credit for money that they never paid into the system and start pulling money out of it in the form of Disability payments. Read about the bill that just passed the senate. How do you get credit for payments made to false Social Security account numbers? How many actually did pay in, is another question, because if they never filed tax returns, because they were working for cash, then how could they have paid in anything? There employees were beating the system also. That is the problem with Social Security, many today are not paying into the system, but are taking money out.

 

[Dutch-NJ]

WRONG!!!!!!!!!

What you view as "WRONG!!!!!!!!!" is simply the fault of our present elected officials who are buying votes with our Social Security money.

Unseat those officials, stop the giveaway, and that one problem is solved.

The bigger problem is continued funding of the Social Security system to support future retired persons.

I repeat my question, how can we expect one grandchild to support 16 people?

 

[jdwilson44]

What you view as "WRONG!!!!!!!!!" is simply the fault of our present elected officials who are buying votes with our Social Security money.

Unseat those officials, stop the giveaway, and that one problem is solved.

The bigger problem is continued funding of the Social Security system to support future retired persons.

I repeat my question, how can we expect one grandchild to support 16 people?

No we can't. If you expect lower and lower numbers of working people to support more and more retired people thru their taxes you are forcing them into a form of tax slavery. Eventually they will rebel. The social security thing has been on people's minds for a long time now. My grandmother - who passed away a decade ago at 95 - used to talk about how the goverment had messed with SS by putting it into the general fund so they could spend the money. It is starting to look like the goverment is trying the same trick the Europeans used to prop up their welfare states - admitting millions of immigrants who will pay into the system. We all know where Europe is headed because of those decisions. You can add Social Security to the list of things that are pissing off mainstream America along with illegal immigration, govt. intrusion thru the Patriot Act, the Iraq war, excessive government spending on just about everything, political correctness, etc. The politicians keep playing shell games with the money - sooner or later you run out of shells. Reality always wins in the end so this game cannot go on forever.

I keep hearing people on these forums talking about electing new officials who will stop the giveaway - I don't know about the rest of the country but here in MA there aren't any. One seems to be just as bad as the other so you are left with no real alternatives.

 

[JimR]

The PRM (MA.) is a lost cause. We should just push the whole state into the ocean just like Kalifornia. Kali is the idiots of the west while PRM is the idiots of the east.

 

[Cityboy]

There are some experts who consider Social Security a Ponzi Scheme. I can understand their viewpoint.

The baby boomer generation will be retiring soon. That’s going to start the dominoes falling.

Check American demographics. People are living longer. Younger couples are marring at an older age. Families are giving birth to fewer children.

Can we expect one grandchild to support 16 people? Do the math yourself.

Who is going to fund Social Security to keep the Ponzi Scheme working?

Hint: Immigrants

I think you are right Dutch. LEGAL tax paying immigrants will help keep it going. It is a Ponzi scheme, and a decrese in population will ultimately bankrupt the SS system.

Have you read any of Harry S. Dent's books on demographics?

 

[JimR]

That must be why ALL the Democrats voted to let the Illegals become legals.. It is an easy way to try and bail out SS.

 

[Dutch-NJ]

I think you are right Dutch. LEGAL tax paying immigrants will help keep it going. It is a Ponzi scheme, and a decrese in population will ultimately bankrupt the SS system.

Have you read any of Harry S. Dent's books on demographics?

I’ve heard of Dent, but I’ve never read any of his books.

No reflection on Dent, but most of these investment “visionaries” and “forecasters” remind me of racetrack touts.

I know how touts operate and I know how Ponzi schemes work, so I’m content.

 

[Dutch-NJ]

That must be why ALL the Democrats voted to let the Illegals become legals.. It is an easy way to try and bail out SS.

To understand what’s really going on, you have to understand how businesses operate.

Most “cash” businesses like restaurants who employ illegals and pay them cash don’t want to pay that cash without listing some of it as a business deduction. To deduct a salary, there has to be a paper trail.

If income tax and SS money is paid to the government under a phony number, what happens to those payments? The government just keeps it.

There are supposed to be 10 million illegals working in the U.S. Suppose each illegal pays $20 per week to a phony account. That’s 200 million dollars per week. That’s 10.4 BILLION dollars per year....... with very minimal payout.

The larger companies like Walmart don’t pay in cash, but they use contractors and suppliers. The contractors and suppliers pay cash and some even 1099 their workers.

It’s a sweet racket if you know how it works.

 

[Cityboy]

I’ve heard of Dent, but I’ve never read any of his books.

No reflection on Dent, but most of these investment “visionaries” and “forecasters” remind me of racetrack touts.

I know how touts operate and I know how Ponzi schemes work, so I’m content.

The difference with Dent is he has been correct so far, and he predicts trends based on demographics. He admits he cannot predict the year his predictions happen, but he has always been right within 3 years, and it is based on mathmatical logic. Time will tell.